What’s the best way to use your board well?

Fred Wilson (Co-Founder and Partner at Union Square Ventures)
MBA Mondays: Leveraging Your Partners To Grow And Develop Your Team – AVC

Selectively engage your investors in the recruiting process. Use them when they can help. Use them to close an important candidate. Use them to get a second or third opinion on a particularly important hire. Don’t give your investors control over your hiring decisions but engage them as trusted advisors.

Fred Wilson (Co-Founder and Partner at Union Square Ventures)
MBA Mondays: Leveraging Your Partners To Grow And Develop Your Team – AVC

Expose your investors to your team. Give them a sense of the culture of the company and the composition of the team. Give your best and brightest “air time” with your investors. Your employees will like it and so will your investors. I really enjoy being invited to speak to an all hands meeting, or to have lunch with the team, or to go play paintball with a couple portfolio companies.

David Jackson (Founder, Seeking Alpha)
Do most VCs add negative value? | A Founder’s Notebook

Being aware of where you add value vs. not isn’t just a requirement for VCs — it’s true for everyone. Having clarity myself about where each board member adds value vs. not has significantly helped me get the most out of Seeking Alpha’s (excellent) board.

David Jackson (Founder, Seeking Alpha)
Where VCs and board members add the most value | A Founder’s Notebook

In my experience, Seeking Alpha’s board members have added most value in three areas: (i) helping us hire great people, (ii) introducing us to business partners, and (iii) helping us raise money by enthusiastically introducing us to other investors.